Deep Tide TechFlow message: On July 16, according to Cointelegraph, the UK fintech company Revolut has received in-principle approval from the United Arab Emirates Virtual Assets Regulatory Authority (VARA), allowing it to provide local crypto services including broker-dealer services, management and investment, and exchanges.

This approval enables users in the United Arab Emirates to buy, sell, and hold digital assets via the Revolut app and the Revolut X exchange. At present, VARA lists 51 companies approved to provide crypto services in the United Arab Emirates, of which 22 have received in-principle approval. Revolut received a UK banking license in March this year, and it is still working on applications for market access in the United States and Peru.